Pimax Completes $15M Series A Funding Round

Pimax, the Shanghai-based VR headset producer identified for his or her upcoming huge subject of view headset Pimax ‘8K’, have raised almost $15 million of their first post-Kickstarter funding spherical.

According to China-based tech publication YiVian, Pimax introduced on December 19th that it had closed a close to ￥100 million RMB spherical of Series A funding co-led by China-based companies O-Film and Tianma Bearing Group Co (TMB).

Back when the corporate’s Kickstarter marketing campaign hit the $2.45 million mark, or simply over that of Oculus’ Kickstarter, it was clear Pimax had handed an vital litmus check relating to public curiosity of high-FOV, increased decision VR headsets.

Pimax CEO Robin Weng on the mic, picture courtesy Pimax VR

Garnering from its backers over $4.2 million USD by the marketing campaign’s conclusion, and turning into probably the most well-funded VR undertaking on Kickstarter, Pimax’s trajectory seems extra promising than ever because of its first personal funding.

To preserve issues in context: after Oculus’ profitable Kickstarter, it gave the corporate momentum to increase a $16 million Series A in 2013 and a $75 million Series B later that yr, which was then adopted by their $2 billion Facebook buyout in 2014. Needless to say, we’ll be watching with bated breath as Pimax strikes ahead.

Pimax’s ‘5K’ and ‘8K’ VR headsets are nonetheless slated to launch to early backers beginning in January 2018, though it’s unclear if the corporate will make revisions now that it has some contemporary funding underfoot. We’ll have our eye on Pimax because it heads into the brand new yr.

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